-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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And it is going to get a whole lot worse. We haven’t seen the worst of it yet.
Why is the Illinois economy cratering? Could it be:
— the most business hostile laws/regulations in America
— the most burdensome tax structures/tax rates in the US
— a failing educational system at all levels
— the worst fiscal basket case among all 50 states
— out of control crime/soft on crime Democrats that have made law and order impossible
— crooked and corrupt unions that have a stranglehold on government
— the worst corruption of any state/one party misrule
— a Democrat state energy suicide pact that will give Illinois 3rd world power blackouts
This is what Democrats call equity. It’s how they prefer to live. Living any other way is white supramacy and patriarchy or something.
Dems would rather rule over a wasteland as long as they can retain their power. See any communist country in history. It’s just a bonus for them when their opponents leave so they don’t need to open gulags, which they would gladly do if needed to.